Flywire (NASDAQ:FLYW) Stock: Insider Rob Orgel Sells 125,000 Shares

Flywire Corporation (NASDAQ:FLYW) COO Rob Orgel sold 125,000 shares of the firm’s stock in a transaction that occurred on Tuesday, November 10th. The stock was sold at an average price of $21.81, for a total transaction of $2,726,250.00. Following the transaction, the chief operating officer directly owned 916,918 shares in the company, valued at $19,997,981.58. This represents a 12.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Flywire Stock Performance

Shares of NASDAQ FLYW traded up $0.79 during midday trading on Friday, reaching $22.26. The company’s stock had a trading volume of 2,403,999 shares, compared to its average volume of 1,978,672. Flywire Corporation has a fifty-two week low of $10.55 and a fifty-two week high of $22.58. The business’s 50 day moving average price is $18.79 and its two-hundred day moving average price is $15.91. The company has a market cap of $2.73 billion, a P/E ratio of 37.10, a P/E/G ratio of 0.91 and a beta of 1.32.

Flywire (NASDAQ:FLYW) last issued its quarterly earnings results on Tuesday, November 3rd. The company reported $0.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.26. The business had revenue of $250.30 million during the quarter, compared to analysts’ expectations of $233.25 million. Flywire had a return on equity of 9.25% and a net margin of 10.34%. The firm’s revenue for the quarter was up 25.1% compared to the same quarter last year. During the same period in the previous year, the company posted $0.23 earnings per share. Sell-side analysts forecast that Flywire Corporation will post 0.64 earnings per share for the current fiscal year.

Institutional Trading of Flywire

Large investors have recently made changes to their positions in the company. Wellington Management Group LLP raised its position in Flywire by 1.2% during the second quarter. Wellington Management Group LLP now owns 5,340,579 shares of the company’s stock valued at $93,834,000 after purchasing an additional 64,998 shares in the last quarter. Jennison Associates LLC lifted its stake in Flywire by 19.9% during the first quarter. Jennison Associates LLC now owns 5,298,881 shares of the company’s stock worth $61,679,000 after purchasing an additional 878,248 shares during the last quarter. Wasatch Advisors LP acquired a new stake in shares of Flywire in the 2nd quarter valued at $44,026,000. Dimensional Fund Advisors LP boosted its holdings in shares of Flywire by 18.6% in the 1st quarter. Dimensional Fund Advisors LP now owns 1,886,865 shares of the company’s stock valued at $21,962,000 after purchasing an additional 295,960 shares in the last quarter. Finally, One Way Holdings LLC boosted its holdings in shares of Flywire by 7.2% in the 3rd quarter. One Way Holdings LLC now owns 1,131,863 shares of the company’s stock valued at $19,808,000 after purchasing an additional 76,310 shares in the last quarter. Institutional investors and hedge funds own 95.90% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Royal Bank Of Canada reiterated an “outperform” rating and set a $25.00 target price on shares of Flywire in a research report on Wednesday, September 30th. Citigroup increased their target price on Flywire from $19.00 to $23.00 and gave the stock a “neutral” rating in a report on Thursday, November 5th. Morgan Stanley raised their price target on Flywire from $24.00 to $26.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 4th. Weiss Ratings raised Flywire from a “hold (c-)” rating to a “hold (c+)” rating in a research note on Monday, November 9th. Finally, Truist Financial boosted their price target on Flywire from $19.00 to $23.00 and gave the company a “hold” rating in a research note on Wednesday. Seven investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, Flywire presently has an average rating of “Hold” and a consensus target price of $22.58.

Flywire Company Profile

Flywire Corporation is a global payments and software company that helps businesses and institutions manage domestic and cross-border payments. Its platform connects payment processing with organizations’ existing systems and supports multiple currencies and local payment methods. The company serves customers in sectors including education, healthcare, travel and business-to-business services. Its offerings help organizations collect payments from customers and manage related payment workflows, including international transactions.